Update on La Preciosa Silver Royalty

Trident Royalties Plc (AIM: TRR, OTC: TDTRF), the diversified mining royalty company, is pleased to note recent positive progress announced by Avino Silver and Gold Mines Ltd. (“Avino”, TSX: ASM, NYSE AMERICAN: ASM) on its La Preciosa Silver Project (“La Preciosa”). On 15 May 2023, Trident announced the acquisition of royalty assets comprising:

• 1.25% net smelter return royalty covering the Gloria and Abundancia veins at La Preciosa;
• 2.00% gross value return royalty covering all other areas of La Preciosa;
• US$8.75 million milestone payment, payable to Trident within 12 months of first silver production at La Preciosa.

LA PRECIOSA SILVER PROJECT

Avino recently reported that it has signed a long-term land-use agreement with a local community for the development of La Preciosa. La Preciosa hosts one of the largest undeveloped primary silver resources in Mexico and is located approximately 19 kilometres from the current Avino Mine operations, which has an operating 2,500 tonnes per day mill processing facility and all the necessary infrastructure to allow for mineral processing from La Preciosa.

David Wolfin, Chief Executive Officer of Avino commented for the purpose of its announcement:

“With this long-term land-use agreement in place, we can commence hauling of old surface stockpiles to our mill for processing. We are now able to begin the filing of our environmental permit for underground extraction. Pending regulatory approval, we can start developing the ramp down to our initial target of the high-grade Gloria vein. The La Preciosa mine represents a key pillar in our transformational growth strategy, as well as hosting a large endowment of silver and gold resources which we expect to process for years to come. We are delighted to work with our local community stakeholders to come to this amicable and cooperative result.” 

Adam Davidson, Chief Executive Officer of Trident commented:

“2024 is off to a great start at Trident with Avino’s progress at La Preciosa. With the land-use agreement in place, Avino is moving to first production from its stockpiles while it obtains the requisite permits to commence underground production. We want to congratulate Avino on this milestone and look forward to continued growth at the broader Avino operation, with La Preciosa playing a key role moving forward.”